The decline continues for Nokia. While Lumia sales volume increased by 32% to 7.2 million during Q2, this was well short of the 8.1 million analysts expected would be sold. Meanwhile, smartphone sales are down 10.2 million units from Q2 2012, based solely on the death of Symbian. Did Nokia jump from a burning platform to a sinking ship? Or will the next Windows Phone update finally bring feature parity with Symbian? Note from Thom: Loads of new models, yet still not the turning point we are promised every time Nokia releases quarterly figures. I'm sure the next quarter, with the next new flagship, will turn it all around.

If you think $300 million lose this quarter is a lot then wait for next quarters when Microsoft platform support payment goes down, license-fees up and those near $2 billion NSN buy-out hit in. Cash-flow problems as junk-rated company ahead.